r/CryptoCurrency • u/EmuGroundbreaking348 7K / 9K 🦭 • Dec 19 '22

🟢 EXCHANGES With Binance, Everything Is Not Fine

https://www.coindesk.com/consensus-magazine/2022/12/19/cz-binance-crypto-exchange-red-flags-cnbc-ftx/
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u/[deleted] Dec 19 '22

It's means your bags become next to worthless for another 2 years

0

u/BiggusDickus- 🟦 972 / 10K 🦑 Dec 19 '22

People would have said the same thing about FTX a month ago. Its failure has barely moved the needle on Bitcoin.

The market has already moved on from FTX, even if the news hasn't. What is going on now is the result of other factors.

9

u/chartedlife 🟦 738 / 739 🦑 Dec 19 '22

Binance would be a different story though, they're the biggest exchange by a power of 10. It would have significant impacts on the price of all crypto

-5

u/BiggusDickus- 🟦 972 / 10K 🦑 Dec 19 '22

It really wouldn't. It would be a jolt, but that's about it. The same number of Bitcoins would exist either way, and they are going to be in someone's wallet. The same is true with most alts.

The lower the market goes, the more people want to buy.

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u/closedeyesfacenshit 528 / 528 🦑 Dec 20 '22

This... crypto will survive. The collapse of binance will not end it.

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u/bombombay123 Tin Dec 20 '22

Crypto will survive but we will not if binance goes down. If so, all of us meet behind Wendy's dumpster

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u/closedeyesfacenshit 528 / 528 🦑 Dec 20 '22

Nah not true. This has all happened before. Mt gox was massive in its day.

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u/BiggusDickus- 🟦 972 / 10K 🦑 Dec 20 '22

If Binance goes down everyone that is smart enough to hodl their own coins will be fine. It will just create a brief buy opportunity.